Cointelegraph Team
Cointelegraph
Binance, one of the top cryptocurrency exchanges globally, has started discussions regarding a strategic partnership with two Japanese firms.
According to a press release on Jan. 17, Binance has begun negotiations with Z Corporation, a subsidiary of Z Holdings formerly known as Yahoo Japan and TaoTao, a Japanese licensed cryptocurrency exchange.
The exact details of the partnership have not been revealed as of this moment, but Binance said Z Corporation and TaoTao would "continue discussions and deliberations with Binance and begin preparation to launch trading services for users in Japan".
Binance CEO Changpeng Zhao (CZ) commented to Cointelegraph on the partnerships:
“We are looking forward to our joint efforts with Z Corporation/TaoTao in bringing our services to Japan. Foremost, we want to ensure that we work in full compliance with Japanese laws and regulations where local and global standards function as a key role in establishing sustainable development industry-wide and greater public adoption.”
FSA maintains a tight grip on crypto regulation
On Jan. 14th, the Financial Services Agency, or FSA, proposed lowering the leverage rate limit of cryptocurrency margin trading from 4x to 2x. Moreover, the revised versions of the Payment Services Act and the Financial Instruments and Exchange Act, which some see as strict and vague, will be enforced in April.
Binance noted that all parties in the partnership would work with the agency, stating, "Through licensing Binance’s cutting-edge technologies, Z Corp and TaoTao will collaborate with the Financial Service Agency to ensure full regulatory compliance in the Japanese market."
Just yesterday, Binance announced that Binance.com will gradually restrict access to residents of Japan. Cointelegraph has asked Binance why it rolled back services in the country, but has not received a response at press time. Currently, Japanese traders still have full access to the platform.
Last September, Binance restricted residents of the United States from accessing Binance.com and instead launched Binance.US in a partnership with BAM Trading Services, a U.S. money services business. Back then, CZ talked about the importance of being "fully compliant" with U.S. regulations.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?